Spain is set to launch a new 2.3 billion euros ($2.5 billion) plan aimed at supporting green hydrogen and the renewable energy industry. Prime Minister Pedro Sanchez announced this initiative on Wednesday, emphasizing subsidies for green energy sectors and hydrogen production derived from renewable sources.
In his address to the lower house, Sanchez highlighted that the plan will also encompass support for agriculture, infrastructure, and rural areas transitioning to green energy. Specific details of the plan were not disclosed during the announcement.
Spain has established itself as a leader in renewable energy within Europe, leveraging its abundant sunshine and strong wind resources for energy generation. With record-breaking achievements in renewables, the country is striving to become a significant producer of green hydrogen in the region, generated from renewable electricity.
Earlier this month, Madrid approved a subsidy package totaling 794 million euros for large-scale green hydrogen projects across Spain. These projects have the potential to collectively achieve an electrolysis capacity of 652 megawatts.
